The growth is driven by a combination of price rises mainly that of Netflix in March 2022 and Amazon in September 2022, the clamp down on sharing of accounts and overall growth in subscriptions, which increased from 39.7 million in Q4 2021 to 42.2 million in Q4 2022. Netflix accounted for half of all SVOD revenue in 2022, with the four largest services, Netflix, Amazon Prime, Disney + and Sky’s Now, taking a 93% market share. Of these, Netflix accounted for £1.61 billion, Prime Video £778 million, Disney+ £383 million and Now £253 million. With these figures in, it will be interesting to see how the market grows further with the streaming wars continuing.

YouTube and Facebook remain the largest social video platforms in the U.K., each reaching 91% of U.K. internet users aged 15+ in Q1 2023. Use of TikTok remains high among users aged 15-24, at an hour per day, but take-up among children has slowed, the study notes. Still these platforms are used significantly in the film and TV industry as it relies heavily on them for marketing.

To read the full article on Variety please visit the following link:

https://variety.com/2023/tv/global/uk-streaming-revenues-2022-1235686666/?fbclid=IwAR3GtcnkU9zaaduTgmXSknt1fb_ZETd0QMX3ciNOnn6TCCFg_hCK1cmxMcc